Localiza Quarterly Profit Falls Less-Than-Expected

(Corrects number of analysts used in the consensus on second paragraph in story published July 16.)

Localiza Rent a Car SA (RENT3), a Brazilian car-rental company, said profit fell 86 percent in the second quarter, beating analysts’ expectations.

Net income was 10.7 million reais, compared with 74 million reais a year earlier, according to a regulatory filing today. The result was above the mean estimate for an adjusted profit of 8.22 million reais in a Bloomberg survey of five analysts.

To contact the reporter on this story: Katerina Petroff in Sao Paulo at kpetroff@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net

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